Sen. Loeffler appeared on both Fox News and Bloomberg News today to strongly defend herself from the accusations made against her in regards to trades that were made in her stock portfolio. She states that the decision to involve a third-party advisor was made while she was still in the private sector. She explains that her 20+ years in the financial field, including being recognized as a chartered financial analyst, have given her the expertise and experience to fully comply with both the letter and the spirit of the law and SEC regulations.
Sen. Loeffler adamantly stated: “I want to set the record straight: This is a ridiculous & baseless attack. I don’t make investment decisions for my portfolio. Investment decisions are made by multiple third-party advisors without my or my husband’s knowledge or involvement.”
Some of Sen. Loeffler quotes from the Fox News interview are below:
“I do want to set the record straight. I’ve seen some of those stories. It’s absolutely false and it could not be true. If you actually look at the personal transaction reports that were filed, it notices at the bottom that I’m only informed of my transactions after they occur.”
“I’m not involved in the decisions around buying and selling. There’s a range of different decisions made every day with regard to my savings and 401K portfolios that I’m not involved in.”
“When we acquired the New York Stock Exchange, back when I was part of the company, we actually put the first set of rules in that prohibited discretionary trading. So, no longer do my husband and I have the ability to do discretionary trades, and that’s why it’s outsourced to third-party investment managers. And that’s why I’m up here in Washington working for hard-working Georgian families and families across our country so that the American dream can stay intact. I’ve spent the last 10 days, 24/7 around the clock working to hear the stories of our hard-working Georgians – waitresses, hospital administrators, state and county public health officials – to figure out what is needed, and I’ve advocated successfully to get that in the legislation that we’re advancing today.”